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Beaghan Company had the following pprojected sales for the next three months are as follows: . July August September $500,000 400,000 700,000 The company expects
Beaghan Company had the following pprojected sales for the next three months are as follows: . July August September $500,000 400,000 700,000 The company expects to sell 25% of its merchandise for cash. Of the 75% of the sales sold on account, 60% are expected to be collected in the month of the sale and the remainder in the month following the sale. Accounts receivables on July 1 was $180,000. Calculate the following: a. Estimated cash collections in July. b. Estimated cash collections in August c. Estimated cash collections in September. d. Estimated accounts receivable balance for July 31t e. Estimated accounts receivable balance for August 31t f. Estimated accounts receivable balance for September 30
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